Tuesday newspaper round-up: King Charles, Google, offshore companies
By Michele Maatouk
Date: Tuesday 01 Jul 2025
(Sharecast News) - King Charles is set to receive official annual income of £132m next year, after his portfolio of land and property made more than £1bn in profits thanks to a boom in the offshore wind sector. Profits at the crown estate - which partly funds the monarchy - were flat at £1.1bn in its financial year to the end of March but more than double their level two years ago, at £442.6m. - Guardian
A wave of big-name acts including Taylor Swift, Charli xcx and Bruce Springsteen helped to attract a record of more than 23 million live music fans in the UK last year, leading to an unprecedented £10bn of spending across the UK economy. A report from the industry body UK Music estimates that 23.5 million "music tourists" attended concerts and festivals last year, up almost a quarter on the 19.2 million in 2023. - Guardian
Google will start harnessing power from a cutting-edge nuclear fusion company as it seeks to use cleaner energy for its artificial intelligence (AI) data centres. The search giant has agreed to buy 200 megawatts (MW) of power starting in the 2030s from US fusion start-up Commonwealth Energy Systems, which is planning a nuclear fusion plant. Google will also take part-ownership of the business, which previously raised $1.8bn (£1.3bn) in 2021 from investors including Bill Gates and Tiger Global, making it the best-funded private fusion business. - Telegraph
Six years ago Alexander Darwall was a master of the universe, a star stockpicker so admired that his former employer Jupiter Fund Management blamed him for £4.3 billion of client defections when he left to set up his own shop. Today Darwall threw in the towel, announcing plans to give up his independence and sell his business Devon Equity Management to a group headed by the Aberdeen Asset Management co-founder Martin Gilbert for up to £2.46 million. - The Times
Offshore companies which made more than £100 million when a technology business floated on the London Stock Exchange have said they were run for the benefit of the founder who allegedly previously claimed she had no connection to them. The companies, which owned 39 per cent of Big Technologies before its initial public offering in 2021, have said in court filings that they were "an asset of" a trust whose beneficiaries are Sara Murray, Big's founder and former chief executive, and her daughter, Rowena. - The Times
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